Frequently Asked Questions

What is the LA ABLE 529A Program?

The Louisiana Achieving a Better Life Experience (ABLE) Account Program was enacted in 2014 to provide a savings program to encourage and assist individuals and families in saving private funds for the purpose of supporting persons with disabilities in endeavors to maintain health, independence, and quality of life.

What is the purpose of the LA ABLE 529A Program?

  1. To assist persons with disabilities and their families to save to pay qualified disability expenses so that persons with disabilities may maintain health, independence, and quality of life.
  2. To assist in providing secure funding for disability-related expenses on behalf of designated beneficiaries that will supplement, but not supplant, benefits provided through private insurance, the medical assistance program administered by this state in accordance with Title XIX of the Social Security Act, the supplemental income program under Title XVI of such Act, the beneficiary’s employment, and other sources.
  3. To comply fully with all provisions of the Stephen Beck Jr, ABLE Act of 2014.

Who administers the LA ABLE 529A Program?

The Louisiana Tuition Trust Authority (LATTA) is a statutory authority whose membership consists of the Louisiana Board of Regents, plus one member from the Louisiana Bankers Association, the State Treasurer, and one member from the House of Representatives and Senate. The LATTA administers the ABLE Account Program through the Louisiana Board of Regents, Office of Student Financial Assistance (LOSFA).
LOSFA, a program under the Board of Regents, performs the functions of the state relating to programs of financial assistance and certain scholarship programs for higher education in accordance with directives of its governing bodies and applicable law.

What is the maximum allowable account balance for an ABLE Account?

$500,000

NOTE: An account owner can save up to $15,000 per year or with help from family and friends. As long as the balance in an account does not meet or exceed $100,000, the funds will not be not be counted as a resource for purposes of determining eligibility for SSI. In addition, if an account does meet or exceed $100,000, SSI will only be suspended; it will not be permanently canceled. Once the balance in the account goes below this $100,000 threshold, the SSI benefits can be reinstated.

What are Qualified Disability Expenses (QDEs)?

Expenses that relate to the blindness or disability of the designated beneficiary in maintaining or improving his or her health, independence, or quality of life. QDEs may, but need not, benefit only the disabled individual. QDEs include, but are not limited to, expenses related to the beneficiary’s:

  • Education – to include Tuition for preschool to post-secondary schools
  • Housing
  • Transportation
  • Employment Training and Support
  • Assistive Technology and Related Services
  • Personal Support Services
  • Health, Prevention, and Wellness
  • Financial Management and Administrative Services
  • Legal Fees
  • Expenses for Oversight and Monitoring
  • Funeral and Burial Expenses
  • Other expenses which may be identified by the Internal Revenue Service

Can an account owner have more than one ABLE Account?

No. Only one ABLE account may be established for an account owner, whether the account is established in Louisiana or with another ABLE program.

Who can establish an ABLE Account?

The Account Owner must be the person who has one of the disabilities listed below:

  1. Developmental Disorders
    1. Autistic Spectrum Disorder
    2. Asperger’s Disorder
    3. Developmental and Learning Disabilities
  2. Intellectual Disability - May be reported as mild, moderate, or severe intellectual disability
  3. Psychiatric Disorders
    1. Schizophrenia
    2. Major depressive disorder
    3. Post-traumatic stress disorder (PTSD)
    4. Anorexia nervosa
    5. Attention deficit/hyperactivity disorder (AD/HD)
    6. Bipolar disorder
  4. Nervous Disorders
    1. Blindness
    2. Deafness
    3. Cerebral Palsy
    4. Muscular Dystrophy
    5. Spina Bifida
    6. Juvenile-onset Huntington’s disease
    7. Multiple Sclerosis
    8. Severe sensorineural hearing loss
    9. Congenital cataracts
  5. Congenital Anomalies
    1. Chromosomal abnormalities including Down Syndrome and Osteogenesis imperfecta
    2. Xeroderma pigmentosum
    3. Spinal muscular atrophy
    4. Fragile X syndrome
    5. Edwards syndrome
  6. Respiratory Disorders - Cystic Fibrosis
  7. Other
    1. Tetralogy of Fallot
    2. Hypoplastic left heart syndrome
    3. End-stage liver disease
    4. Juvenile-onset rheumatoid arthritis
    5. Sickle cell disease
    6. Hemophilia
    7. Any other disability not listed

All ABLE accounts will have an owner, a beneficiary, and an administrator. The account owner and the beneficiary will always be the same person. In some cases the administrator will be the account owner, but if the account owner is unable to manage his own affairs or is under the age of 18, the administrator will be someone else. An account administrator who is not also the disabled individual will be required to provide documentation that he/she has the legal authority to act on behalf of the account owner.

What documentation(s) is required to establish an account on behalf of an account owner who is unable to handle his own affairs?

  1. If a parent, a copy of the account owner’s birth certificate
  2. If an adoptive parent, documentation evidencing the adoption of the account owner
  3. If a custodian, court documents evidencing the appointment of the custodian by a court of law
  4. If designated by the account owner to administer his/her affairs, documentation evidencing such designation

What is the program Enrollment period?

An account may be established at any time during the calendar year.

Is there an application fee for opening an ABLE Account?

No application fee will be charged to those applying for an ABLE Account on behalf of an account owner.

Is there an initial deposit required to open an ABLE Account?

No. An initial deposit is not required to open an ABLE Account; however, a deposit of $10 must be made within 180 days from the date on the letter of notification of approval of the account.

Who can request a withdrawal check? Who will the check be made out to?

The account administrator can request a check, and all checks will be made payable to the administrator.

Can you change the current Account owner/beneficiary to someone else?

The account owner/beneficiary may be changed, but only if the substitute account owner/beneficiary is a brother or sister of the original account owner.

How many times can the Investment Options be changed for an ABLE Account?

Investment Options may be changed no more than twice per year.

How many withdrawals can be made per month?

Only two withdrawals can be made per month.

What is the minimum amount a withdrawal can be requested for?

A minimum of $200.00 or more may be requested and must be in whole dollar increments and may be no more than the available account balance.

What forms of deposit can be made into an ABLE Account?

Automatic Bank Deposits from a checking or savings account or by direct payment.

Can a Payroll deposit or Paypoint be used to make deposits into an ABLE account?

No. Only Direct Payments or Automatic Bank Deposits from your checking or savings account


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